Malaysian Ringgit Opens Higher Against US Dollar on Weak US Jobs Data

KUALA LUMPUR, AUGUST 2026 — The Malaysian ringgit opened slightly higher against the US dollar on Monday, August 10, supported by weaker United States non-farm payroll data that signalled softer conditions in the US labour market.

At 8am, the local currency strengthened to 4.0875/0925 against the US dollar, compared with 4.0885/0930 at Friday’s close.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said US non-farm payrolls fell by 23,000 in July, sharply below the market expectation of 88,000 new jobs.

The US labour force participation rate also declined for the eighth consecutive month to 61.4%, while average hourly earnings grew at a moderate annual pace of 3.2%. The figures suggest that the US labour market is losing some momentum.

Following the employment report, expectations for another US interest rate increase at the Federal Open Market Committee’s September meeting fell to 43.9% from 57% previously.

However, uncertainty surrounding the reopening of the Strait of Hormuz remains a key factor influencing global market sentiment. The ringgit is expected to trade between RM4.07 and RM4.09 against the US dollar during the day.

Against other major currencies, the ringgit weakened versus the Japanese yen, euro and British pound. It also traded lower against the Singapore dollar and Thai baht, while remaining relatively stable against the Philippine peso and Indonesian rupiah.